Militant group seeks reversal of CBNâ€™s takeover of Skye bank

A militant group in the Niger Delta, Iduwn Volunteers Force (IVF) has asked President Muhammadu Buhari to reverse the removal of management of Skye Bank Plc by the Central Bank of Nigeriaâ€™s (CBN).Â The group on Tuesday which claimed to have the backing of some shareholders association also urged President Buhari to stop CBN from forcefully â€˜wind upâ€™ of Skye BankÂ and some other banks underway under the pretense of â€˜Insider Creditsâ€™ policy.Â

In a statement issued in Lagos Tuesday by its Commander, Johnson Biboye, the group described the policy of the apex bank as â€œanti-people”.Â

IVF, in particular tasked the President to prevail on the CBN Governor, Mr. Godwin Emefiele to withdraw a letter addressed to 11 banks, including Skye Bank Plc. compelling them to bring details of â€˜insider related creditsâ€™ before December 31.Â

They contended that the country would be thrown into economic instability should the CBN be allowed to go ahead with its planned directive which the maintained was nothing “but a plan designed to take-over the 11 banks.Â

The CBN had in a letter dated January 22 and signed by its Director of Banking Supervision, Mr. Benjamin .A. Fakunle asked the banks to bring 10 per cent of their paid-up capital per director before December 31.Â

The IVF Commander said: â€œWe the leadership of the above named freedom fighting group in the Niger Delta, who have sincerely followed your pragmatic approach to addressing serious national issues, be it political, economic, infrastructural development and above all your desire to ensure things are done in accordance with strict due process, are worried about the anti-peopleâ€™s economic policies of the Central Bank Governor, Mr. Godwin Emefiele.Â

â€œYour Excellency, we are saddened as Nigerians that recent economic policies being released by the Central Bank Governor, (CBN), Mr. Godwin Emefiele, are not only anti-people, anti-economic development but also anti-progressive.

â€œIt is very important to let you know of the ongoing harassment/intimidation of Chairmen of banks including their Managing Directors and Chief Executives.Â

â€œThis, Your Excellency, should be aware, is a well-orchestrated plot by enemies of your government to use the Central Bank Governor, Mr. Godwin Emefiele, to systematically collapse the nationâ€™s economy, so that global watchers could make mockery of your government and finally turn Nigeria to a laughing stock locally and internationally”, he added.